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Stock Market

Zenith Bank, Access Bank, most traded Nigerian Stocks W/W, investors gain N1.04 trillion

Thirty- five (35) equities appreciated at price during the week, lower than fifty-three (53) equities in the previous week.

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Nigerian Stock Exchange

Nigerian stocks ended the trading week cumulatively on a bullish note.

It was a four-day trading week as the Federal Government of Nigeria declared Friday 25th of December 2020, as a Public Holiday in commemoration of the Christmas celebration.

READ: Share buyback: Dangote shares gain 10% in early trading as investors launch full bids

The All Share Index and Market Capitalization appreciated by 5.42% to close the week at 38,800.01 and N20.279 trillion respectively. Investors gained N1.04 trillion in the past four trading sessions.

  • Meanwhile, a total turnover of 2.756 billion shares worth N40.311 billion in 17,459 deals was traded this week by investors on the floor of the Exchange, in contrast to a total of 1.893 billion shares valued at N17.647 billion that exchanged hands last week in 20,660 deals.
  • The Financial Services Industry (measured by volume) led the activity chart with 2.106 billion shares valued at N19.454 billion traded in 8,327 deals; thus contributing 76.40% and 48.26% to the total equity turnover volume and value respectively.
  • The Consumer Goods Industry followed with 182.099 million shares worth N4.392 billion in 2,485 deals. The third place was the Industrial Goods Industry, with a turnover of 145.808 million shares worth N10.632 billion in 2,587 deals.
  • Trading in the top three equities namely Access Bank Plc., Zenith Bank Plc., and AXA Mansard Insurance Plc. (measured by volume) accounted for 1.439 billion shares worth N13.881 billion in 2,972 deals, contributing 52.23% and 34.44% to the total equity turnover volume and value respectively.
  • Thirty- five (35) equities appreciated at price during the week, lower than fifty-three (53) equities in the previous week. Eighteen (18) equities depreciated in price, higher than seventeen (17)equities in the previous week; while one hundred and eight (108) equities remained unchanged, higher than ninety-one (91) recorded in the previous week.

READ: Operators in Agric value chain must embrace insurance to reduce risk – Universal Insurance boss

Specta

Top gainers

  1. FTN COCOA PROCESSORS PLC up 43.55% to close at N0.89
  2. JAPAUL GOLD & VENTURES PLC up 41.18% to close at N0.48
  3. B.O.C. GASES PLC. up 20.83% to close at N8.70
  4. DANGOTE CEMENT PLC up 16.95% to close at N245.00
  5. OANDO PLC up 15.92% to close at N3.64
  6. AXAMANSARD INSURANCE PLC up 14.13% to close at N1.05
  7. CUTIX PLC. up 13.76% to close at N2.15
  8. LASACO ASSURANCE PLC. up 13.33% to close at N0.34
  9. CAVERTON OFFSHORE SUPPORT GRP PLC up 11.41% to close at N2.05
  10. HONEYWELL FLOUR MILL PLC up 10.81% to close at N1.23

READ: GTBank Plc records 1.80% increase in 2020 9M interest income

Top losers

  1. TRANS-NATIONWIDE EXPRESS PLC. down 9.20% to close at N0.79
  2. JOHN HOLT PLC. down 8.93%  to close at N0.51
  3. CHAMPION BREW. PLC. down 7.87%  to close at N0.82
  4. INTERNATIONAL BREWERIES PLC. down 5.90%  to close at N5.90
  5. ARDOVA PLC down 5.24%  to close at N13.55
  6. LAFARGE AFRICA PLC. down 4.55%  to close at N21.00
  7. NEIMETH INTERNATIONAL PHARMACEUTICALS PLC down 4.17% to close at N2.30
  8. MAY & BAKER NIGERIA PLC. down 3.90%  to close at N3.70
  9. CONSOLIDATED HALLMARK INSURANCE PLC down 3.33% to close at N0.29
  10. JAIZ BANK PLC down 3.23% to close at N0.60

READ: AXA Mansard Plc increase authorized share capital to N18 billion

Outlook

Nigerian Stocks unsurprisingly recorded impressive gains W/W, as investors increased their buying pressure, especially on NSE30 stocks that include Dangote, Airtel, and lately Guinness.

  • Nigerian’s crude, selling at $51/barrel, kept stocks rally up. Stock experts anticipate the present bullish run currently playing at Africa’s best-performing equity market will remain long term, albeit alongside profit-taking seen lately at its last trading session.
  • However, Nairametrics, envisage cautious buying, taking into consideration the low presence of the Foreign portfolio investors amid low investments seen lately in the Nigerian Stock Exchange amid stringent capital controls set in place by Nigeria’s Apex bank could limit the Stocks bull upside in the coming year.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina or email [email protected] He is a Member of the Chartered Financial Analyst Society.

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Spotlight Stories

Stay-at-Home Stocks: Microsoft, Apple, Facebook surge after upbeat results from Netflix

The Nasdaq index had earlier hit a record high on hopes of impressive earnings later this week.

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Stocks, U.S. approves New York Stock Exchange listing plan to cut off investment banks

Nasdaq recorded impressive buying pressures with the so-called “stay-at-home” winners, including Facebook, Apple, and Microsoft, which rose after upbeat results from Netflix Inc recorded last week.

Netflix’s share price had earlier recorded impressive gains after it beat market expectation, powering the video streaming stock to close on the account that it added more customers than expected and revealed it no longer needed debt to build its entertainment empire.

  • The positive upbeat guidance on free cash prompted bullish remarks from Wall Street analysts, though some questioned how much of the subscriber growth was pulled forward.
  • The Nasdaq index had earlier hit a record high on hopes of impressive earnings later this week from the likes of Apple, Facebook, and Google, but the Dow Jones Industrial Average index, dominated by industrials and airlines, struggled to keep such bullish momentum.

That said, the U.S Equity market generally pulled back from its record highs in recent days, waiting to see if COVID-19 vaccines could reduce COVID-19 infection rates globally.

The Dow Jones Industrial Average fell by 0.12%, to settle at 30,960 pints; however, the S&P 500 gained 0.36%, to close at 3,855.36 points and the Nasdaq Composite added 0.69%, to settle at 13,635.99 points.

In a note, Stephen Innes, Chief Global Market Strategist at Axi, spoke on the bullish rally sighted in U.S based tech brands.

Specta

“One argument for the outperformance could be that tech enjoys low rates, so the fixed-income performance helps amid lockdowns. After all, in a foreshadowing effect, Netflix rose 16% last week after subscriber numbers soared by a record 37mn in 2020.

“Unsurprisingly, it seems lockdowns and TV go hand in hand and by extension, so does gaming and the use of cutting-edge software and hardware components.

“And with the bulk of Tech market cap (75%) reporting during the next two weeks, it’s clear investors like the pack’s heavyweight leaders instead of buy-the-laggards, leading to these eye-catching moves. And I’m not sure that logic doesn’t make sense.”

What to expect: But at some point, the stock bears might come back to haunt the stock market. There’s nothing in the investment world that’s quite like hitting a patch of black COVID-19 economic ice when traditional investing wisdom suggests the best offence is a good defence by taking your foot off the gas pedal as the most straightforward function of damage control.

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Stock Market

United Capital Plc CEO purchases additional 1.3 million shares worth N7.19 million

United Capital Plc CEO has purchased an additional 1.3 million units of the firm’s shares worth N7.19 million.

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Commercial paper, United Capital Asset Management explains mutual funds’ positive performance

The CEO of United Capital Plc, Mr. Peter Ashade has purchased an additional 1.3 million units of the firm’s shares worth N7.19 million, maintaining a 3-monthly buying streak.

This is according to a recent disclosure signed by the firm’s secretary, Leo Okafor, and sent to the Nigerian Stock Exchange market today, as seen by Nairametrics.

The recent deal which took place on the 22nd of January, 2021 saw the United Capital boss purchase an additional 1,330,613 units of the firm’s share at N5.40 per share, totaling N7, 185,310.2.

Nairametrics learned that the recent deal raises the total number of shares purchased by the CEO in the last three months by an additional 6,000,000 units.

What you should know

  • Mr. Ashade earlier purchased additional 1.5million units of United Capital Plc shares, worth N8.03 million, as reported by Nairametrics.
  • Nairametrics also reported the purchase of one million units of the United Capital Plc shares by its CEO.
  • As of the time of reporting this, United Capital Plc share price currently trades at N5.40, down by 0.92%.
  • The firm has a current market capitalization of N32.4 billion and 6million outstanding shares.
  • The recent deal might be an indicator of strong investors’ confidence in the potentials of the firm.

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Spotlight Stories

Airtel, WAPCO, MRS rally up, investors gain N46 billion

The All Share Index gained 0.21% to close at 41,088.96 index points. Year to date return and market capitalization settled at 2.03%, and N21.49 trillion respectively

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Nigerian banking stocks remain most liquid stocks, as investors gain N25.1 billion, DANGOTE CEMENT, OKOMUOIL and GUINNESS drag Nigerian Stock market down,  SEPLAT, GUINNESS, Breaks Nigerian Bourse Support Levels, Investors Lose N49 Billion  

Nigerian Stocks ended the first trading session on a bullish note.

The All Share Index gained 0.21% to close at 41,088.96 index points. Year-to-date return and market capitalization settled at 2.03%, and N21.49 trillion respectively. Investors gain N45.49 billion.

  • A total volume of 333 million units of shares, valued at N2.64billion exchanged hands in 5,640 deals. TRANSCORP (-5.26%) finished the most traded shares by volume at 48.9million, while ZENITHBANK (0.00%) topped by value at N418 million.
  • Market breadth was however inverse of the broad index with 30 losers against 19 gainers. MRS (+9.82%) led the gainer’s chart today, while CILEASING (-10.00%) was the top loser.
  • Performance across sectors was mixed; like Oil & Gas (-0.80%), Consumer Goods (-0.72%) and Insurance (-0.58%) closed in red, while the Industrial and Banking indexes improved by +0.54 and 0.49% respectively.

Top gainers

  1. MRS up 9.82%  to close at N12.3
  2. JBERGER up 3.17% to close at N19.5
  3. WAPCO up 1.92% to close at N26.5
  4. DANGCEM up 0.85% to close at N236
  5. AIRTELAFRI up 0.38% to close at N855

Top losers

  1. CILEASING down 10.00% to close at N5.13
  2. ARDOVA down 9.78% to close at N18.45
  3. INTBREW down 6.53% to close at N6.16
  4. NASCON down 5.81% to close at N16.2
  5. UNILEVER down 2.22% to close at N13.2

Outlook

Specta

Nigerian Bourse recorded an impressive winning streak this week as some NSE30 stocks including, AIRTELAFRI, DANGCEM, WAPCO triggered the upward run on Monday’s trading session.

  • The Nigerian Stock market advance to close in positive territory as buying interest was seen on stocks across the board.
  • Nairametrics however, envisages cautious buying, amid improved market conditions in Nigeria’s financial market.

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